Real estate blog entries tagged with 1040 by Rob Spinosa, Mortgage Loan Originator, Marin County (US Bank)

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1040: Howdy, Partner! How's the Income Look on Your Mortgage Application? - 01/18/20 05:31 AM

Howdy, Partner! How's the Income Look on Your Mortgage Application?

I don't care how successful your S-Corporation or partnership may be. When you go to get a home loan, there will be a new sheriff in town --- your mortgage lender. So before your loan process gets hung up at high noon, I thought I'd let you in on a secret about how most lenders will qualify your income. Let's go, amigo. We're burnin' daylight.

Check Yourself
Most of what we focus on below will pertain to the self-employed partner or owner in an S-corp. The widely-accepted definition of 'self-employed' is greater than a 25% … (12 comments)

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